Redwood Investment Management LLC Makes New Investment in Churchill Downs, Incorporated $CHDN

Redwood Investment Management LLC bought a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 24,106 shares of the company’s stock, valued at approximately $2,161,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Geneos Wealth Management Inc. boosted its stake in shares of Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after acquiring an additional 232 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Churchill Downs in the 3rd quarter valued at approximately $25,000. Parkside Financial Bank & Trust increased its stake in Churchill Downs by 293.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock valued at $29,000 after purchasing an additional 191 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Churchill Downs in the 2nd quarter valued at approximately $29,000. Finally, Root Financial Partners LLC raised its holdings in Churchill Downs by 1,173.1% during the first quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock worth $30,000 after purchasing an additional 305 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $87.57 on Thursday. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36. Churchill Downs, Incorporated has a 1-year low of $79.40 and a 1-year high of $118.35. The business has a 50-day moving average of $87.25 and a 200-day moving average of $88.72. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.84 and a beta of 0.68.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.45. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The company had revenue of $980.00 million for the quarter, compared to analyst estimates of $977.38 million. During the same quarter last year, the firm posted $3.10 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts anticipate that Churchill Downs, Incorporated will post 7.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CHDN shares. Susquehanna boosted their target price on Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a research report on Friday, July 31st. Mizuho raised their price target on Churchill Downs from $155.00 to $157.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Churchill Downs in a research note on Friday, July 31st. Citizens Jmp decreased their price objective on shares of Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating on the stock in a research report on Friday, July 31st. Finally, Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research note on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.88.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.